Close Menu
  • Home
  • Market News
    • Crude Oil Prices
    • Brent vs WTI
    • Futures & Trading
    • OPEC Announcements
  • Company & Corporate
    • Mergers & Acquisitions
    • Earnings Reports
    • Executive Moves
    • ESG & Sustainability
  • Geopolitical & Global
    • Middle East
    • North America
    • Europe & Russia
    • Asia & China
    • Latin America
  • Supply & Disruption
    • Pipeline Disruptions
    • Refinery Outages
    • Weather Events (hurricanes, floods)
    • Labor Strikes & Protest Movements
  • Policy & Regulation
    • U.S. Energy Policy
    • EU Carbon Targets
    • Emissions Regulations
    • International Trade & Sanctions
  • Tech
    • Energy Transition
    • Hydrogen & LNG
    • Carbon Capture
    • Battery / Storage Tech
  • ESG
    • Climate Commitments
    • Greenwashing News
    • Net-Zero Tracking
    • Institutional Divestments
  • Financial
    • Interest Rates Impact on Oil
    • Inflation + Demand
    • Oil & Stock Correlation
    • Investor Sentiment

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

How Marketers Use AI to Test Creative Ideas, Generate Insights

March 4, 2026

AllianzGI Acquires 50% Stake in €500 Million German Battery Storage Portfolio from TotalEnergies

March 4, 2026

Barclays Warns Grid Constraints Could Strand Renewables Assets

March 4, 2026
Facebook X (Twitter) Instagram Threads
Oil Market Cap – Global Oil & Energy News, Data & Analysis
  • Home
  • Market News
    • Crude Oil Prices
    • Brent vs WTI
    • Futures & Trading
    • OPEC Announcements
  • Company & Corporate
    • Mergers & Acquisitions
    • Earnings Reports
    • Executive Moves
    • ESG & Sustainability
  • Geopolitical & Global
    • Middle East
    • North America
    • Europe & Russia
    • Asia & China
    • Latin America
  • Supply & Disruption
    • Pipeline Disruptions
    • Refinery Outages
    • Weather Events (hurricanes, floods)
    • Labor Strikes & Protest Movements
  • Policy & Regulation
    • U.S. Energy Policy
    • EU Carbon Targets
    • Emissions Regulations
    • International Trade & Sanctions
  • Tech
    • Energy Transition
    • Hydrogen & LNG
    • Carbon Capture
    • Battery / Storage Tech
  • ESG
    • Climate Commitments
    • Greenwashing News
    • Net-Zero Tracking
    • Institutional Divestments
  • Financial
    • Interest Rates Impact on Oil
    • Inflation + Demand
    • Oil & Stock Correlation
    • Investor Sentiment
Oil Market Cap – Global Oil & Energy News, Data & Analysis
Home » EU to Miss Deadline to Set 2035 Climate Target
Sustainability & ESG

EU to Miss Deadline to Set 2035 Climate Target

omc_adminBy omc_adminSeptember 22, 2025No Comments3 Mins Read
Share
Facebook Twitter Pinterest Threads Bluesky Copy Link


The European Council released a “statement of intent” committing to set a 2035 emissions reduction target for the EU prior to the COP30 international climate conference in November, shortly after lawmakers acknowledged that they will miss the end of September deadline to submit its goal at the conference, as required by the Paris Agreement, as member states have not yet bridged disagreements on key aspects of the EU’s climate ambitions.

While not yet settling on a target, the statement of intent indicated that the EU’s 2035 goal would include a goal to reduce greenhouse gas emissions by between 66.25% to 72.5% by 2035, on a 2019 basis.

The new goal would form the EU’s Nationally Determined Contribution (NDC) under the Paris Agreement. NDCs are national climate action plans presented by each country under the agreement, and are required to be updated every five years with increasingly higher ambition.

The delay in setting a 2035 goal is closely related to extended discussions by member states around proposed changes to the EU Climate Law, and particularly to a proposed goal to reduce emissions by 90% by 2040, which will inform the interim goal.

The 2040 goal was officially proposed by the European Commission in July 2025, alongside several proposed changes to the Climate Law, which sets into legislation the EU goal to reach climate neutrality by 2050. Among the key proposed changes proposed were introducing the ability after 2030 to utilize international carbon credits to achieve a portion of the 2040 target under Article 6 of the Paris Agreement, and for carbon-intensive industries in the scope of the EU Emissions Trading System (EU ETS) to use domestic carbon removals for allowances to compensate for residual emissions from hard to abate sectors.

While EU environment ministers were originally set to vote on the 2040 target on September 18, however, member states had not yet reached agreement on key aspects, and discussions are now anticipated to be held in late October at the European Council summit. Among the key points under discussion are the flexibilities introduced by the Commission, including the use of international carbon credits to meet the 2040 goals, the use of domestic carbon credits for the EU ETS, and potential flexibilities for sector level targets.

For the 2035 goal, it remains unclear where the final target will be set, with some countries, such as Denmark, Spain, Luxembourg, and the Netherlands reportedly pushing for the more ambitious 72.5%, which would align with a linear trajectory to the 2040 goal of 90%, while others, such as Poland, Italy, the Czech Republic, and Hungary favoring the lower-end goal, or the submission of a range instead of a hard target.

Following the issuance of the statement of intent, Lars Aagaard, Denmark’s Minister for Climate, Energy and Utilities said:

“Today, all 27 member states came together in support of the statement of intent for the EU’s NDC. We continue to stand united and will speak with one clear voice at the United Nations. It shows a will of the EU and its member states to find solutions in and promote global climate action.”



Source link

Share. Facebook Twitter Pinterest Bluesky Threads Tumblr Telegram Email
omc_admin
  • Website

Related Posts

AllianzGI Acquires 50% Stake in €500 Million German Battery Storage Portfolio from TotalEnergies

March 4, 2026

NBIM, Brookfield, BCI Launch New Platform to Own, Acquire Clean Energy Infrastructure Across North America

March 4, 2026

Nike Appoints New Chief Sustainability Officer

March 4, 2026
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Federal Reserve cuts key rate for first time this year

September 17, 202513 Views

Inflation or jobs: Federal Reserve officials are divided over competing concerns

August 14, 20259 Views

Oil tanker rates to stay strong into 2026 as sanctions remove ships for hire – Oil & Gas 360

December 16, 20258 Views
Don't Miss

Analyst Outlines 2 Potential Scenarios for Conflict

By omc_adminMarch 4, 2026

In a statement sent to Rigzone on Tuesday, EY-Parthenon Chief Economist Gregory Daco outlined two…

Saudi Oil Storage Filling Fast, Kayrros Says

March 4, 2026

Subsea7 announces CEO transition ahead of planned Saipem merger

March 4, 2026

Extended Hormuz closure could push oil toward $110, analyst warns

March 3, 2026
Top Trending

AllianzGI Acquires 50% Stake in €500 Million German Battery Storage Portfolio from TotalEnergies

By omc_adminMarch 4, 2026

NBIM, Brookfield, BCI Launch New Platform to Own, Acquire Clean Energy Infrastructure Across North America

By omc_adminMarch 4, 2026

Nike Appoints New Chief Sustainability Officer

By omc_adminMarch 4, 2026
Most Popular

The 5 Best 65-Inch TVs of 2025

July 3, 202515 Views

AI’s Next Bottleneck Isn’t Just Chips — It’s the Power Grid: Goldman

November 14, 202514 Views

The Layoffs List of 2025: Meta, Microsoft, Block, and More

May 9, 202510 Views
Our Picks

TotalEnergies to Farm Down German Battery Storage Portfolio

March 4, 2026

Equinor Reaches Deal with Canadian Province to Advance Bay du Nord

March 4, 2026

Asian Market Rout Gets Worse as Mideast Crisis Pushes Oil Higher

March 4, 2026

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Facebook X (Twitter) Instagram Pinterest
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions
© 2026 oilmarketcap. Designed by oilmarketcap.

Type above and press Enter to search. Press Esc to cancel.